Phoenix Power Company SAOG reported initial unaudited earnings results for the quarter ended March 31, 2018. For the quarter, the company reported operating revenue of OMR 16,009,000 against OMR 18,394,000 a year ago. Operating profit was OMR 191,000 against loss of OMR 191,000 a year ago. Loss before tax was OMR 4,999,000 against OMR 5,863,000 a year ago. Net loss was OMR 5,504,000 against OMR 11,987,000 a year ago. The decrease in net loss is mainly due to recognition of deferred tax liability of OMR 5.2 Million recorded in 2017 following the change in corporate income tax rate from 12% to 15% promulgated by Royal Decree 9/2017 last year.